Brand Purpose: The Global Marketing Trend in 2021!
Updated: Jan 19
According to B Lab, purpose-driven brands that focus on strict standards for social and environmental performance are better prepared to weather through the pandemic in 2021. The research revealed that 63% of B Corp companies are more likely to make it through the downturn than other businesses of a similar size.
B Lab believes a company’s resilience is rooted in its brand purpose. When a company holds a strong mission at the heart of its brand, it's better equipped to build genuine relationships with employees, customers and supply chains. It's these communities, connections and strategic partnerships that are supporting brands during challenging times.
A recent study by Deloitte also highlights the power of creating a company purpose. Deloitte's Global Marketing Trends 2021 report revealed that as times get tougher, people expect more from brands. Consumers are looking to brands for help and are more likely to reward the brands that meet their most pressing needs in that moment.
Deloitte’s Global Marketing Trends 2021 consumer survey found:
Almost 4 out of 5 people could recall a time when a brand responded positively to the pandemic. 1 in 5 people strongly agreed this positive action led to increased brand loyalty.
25% walked away from the brands that acted in their own self-interest.
Over 70% valued digital solutions that helped them deepen their connection with other people during the pandemic.
58% could recall at least one brand that had pivoted during the pandemic to better respond to their needs.
82% said that if a brand responded positively to their needs during COVID-19, they would be more loyal to that brand.
From Deloitte’s study, several important marketing trends for 2021 emerged. These trends are summarised as:
The Human Experience
Overall, Deloitte's Global Marketing Trends 2021 report offers a clear view of what’s most pressing in our current landscape — the need for purpose-driven brands that focus on their customers, workforces and society.
Brands that lead with purpose are changing the future of business. Consumers are seeking to connect at a deeper level; their focus and buying power is shifting towards brands that hold themselves accountable to the promises they make and ability to tackle important social and environmental issues.
An example of one of the most standout purpose-driven brands of 2021 is nonother than my favourite beer brand, Brewdog.
Owned by James Watt, the Scottish born brewing brand is revolutionizing a much-loved past time. BrewDog recently launched the world’s first Carbon-Negative Beer, a concept that was driven by the understanding that “If we don’t have a planet to brew beer on, then our whole business is pretty pointless.”
BrewDog Forest, a 2,050-acre site, will soon be growing in the Scottish Highlands. The brewer plans to plant one million trees and restore 650 acres of peatland to support the fight against climate change.
The beer falls in line with many of BrewDog’s sustainability-focused better business initiatives, which include the introduction of sustainable packaging, powering their UK bars from wind power, recycling wastewater and an investment system to shorten the whole supply chain for local brewers.
With the world looking to businesses to solve global issues, there is no greater time to become a purpose-driven company.
Are you ready to create a company purpose?
If you’re wondering how to become a purpose-driven brand in 2021, talk to us at Outsourced imagination. For the month of January, we’re offering 10% off our Brand Purpose DNA Workshop. Find out more here.
Thanks for dropping by our purpose-driven marketing blog. Wishing you a wonderful 2021!
Founder & CMO at Outsourced imagination
Brand purpose agency